Infinity Pharmaceuticals Inc

MondayMorning, April 20, 2009

But Infinity Pharmaceuticals Inc. (Nasdaq) plummeted $2.41, or 29%, to $5.83 after the company called an early halt to a late-stage clinical trial of a drug intended to treat tumors of the digestive tract. The company said it stopped a trial of IPI-504 as a treatment for gastrointestinal stromal tumors.

An independent monitoring committee recommended the move because data showed a higher-than-expected rate of deaths among patients who were taking the drug. The company said it appeared that patients in the trial had more advanced cancers than those who used the drug in earlier clinical trials. No new patients will be enrolled in the trial, and all patients will be taken off IPI-504.